Granules, the Indian Pharmaceutical company that manufactures Paracetamol has released an official statement that a ransomware attack that targeted its servers last month has resulted in substantial loss of revenue and profitability.
As per the details available to our Cybersecurity Insiders, a noted ransomware group targeted Drug maker on May 25th and the information security incident brought in financial loss that could hit the profit margin to a great extent this year.
Currently, the production of the drugs is going slow, however, the IT staff has restored the pro-duction to normal to a great extent and are sure that the dispatching of stock will return to nor-malcy by early next week.
Granules India has made an official statement that it did not pay any ransom to the criminals and instead recovered the encrypted data through a backup plan.
NOTE- Cyber criminals indulging in malware spread are involving in double extortion tactics were they first steal a portion of data and threaten the victim of encrypting the entire database until a ransom is paid. In case, the victim fails to pay the ransom on time or doesn’t pay heed to the demand, they sell the stolen data for monetary benefits. FBI released a press statement in November 2020 that the victims should not pay the ransom, as it not only encourages crime, but also doesn’t guarantee a decryption key for sure. Also, there is an apparent threat that the ransomware spreading gang can also target the same victim twice or thrice in the same year.
